[Resolved]  LICHFL, Thanjavur — not giving any feedback and wrong commitment

Yes am also a victim of this interest rates I took home loan from LIC HFL for 11.25 but they have not reduced it to the newer rates not able to understand why these financial institutions are partial about new customers why don't they bother about existing customers at all..

Hope to reduce the interest rate of all existing customers

my lic account[protected]
name sayed fareed ahamed
i am suffering from two month by LIC
i changed my EMI to other account i put application and reqiuerd formalties
but i am sorry to say that what LIC doing with my acount

I have also applied for LIC home loan. My all documents are with then and my loan disbursment should be done 3 weeks before but still no progres in that. I met manager and staff they are giving me a reason from past 1 week saying no title report recied from back office/main office. I believe they are not following up as its a government organisation no one to ask them.
I want to raise a case in consumer forum for LIC saying remove there Fair practise code, any word saying disbursment in 3 days with all documents. Please helpe me to raise this complaint to consumer court so that afterwards no government organisation will never try to play with their consumer.

This what happening in my case too. This is really looking like a cheating. I have submitted/updated my application for more than two times. still they have not released a single check. Now they are telling to get a legal clearance from a lawyer.Really i am disappointed with the service of LIC.

Avoid LIC housing. I first month itself they have shown poor professionalism, there is no sense of timeliness, interests are more than HDFC and there are number of hidden costs.
The agent and LIC manager said there were no pre-payment charges upto 20%. But it is not mentione in the contract when I got it. Their explanation was 'yahan aise hi hota hai', if we write in contract people will exploit it.
They issued the cheque 1 week before it was required and charged Rs 6k broken period interest. Explanation was 'next week some staff would be on leave'
PSU banks and other FIs have better offers and services. LIC housing is a floundering company banking on the reputation of the parent organization

Yes..True...At the time of availing the loan they are giving wrong commitment that RoI will not be increased for 6-12 months but after 3 months without any intimation they are increasing the RoI...and in fact if i requested them not to increase my loan tenure because of increase RoI instead asked them to increase EMI...they are telling that conversion charges is applicable for revision of EMI...this lending institution is also like other private bank...

I want to bring in my case with LIC home loan too.

I did apply for a loan in local branch (say branch#1) in Andhra Pradesh State as the property is located in Andhra and I work in other state (other than Andhra Pradesh). I did sumit all the required documents within defined time. Branch#1 reviewed the compiled documents and processed till my loan is sanctioned.

The delay started from then. Branch#1 suppose to get a verification certificate from the location where I work (Branch#2) and as part of that branch#1 has sent the file to branch#2 via courier and the tracking also says that it has been reached to destination on time. Branch#2 did not perform the verification for more than a week until we checked that the verification has not been completed. The response that we got from Brach#2 is that they have never received the file. After many requests from us, Branch#2 found the file one corner of the office and tried to bud sling on brach#1 that the file has just arrived.
Because of the delay, I had to postpone my registration twice and facing hard time to find another good time for registration as per astrology. The delay is impacting my office leave as well as I need to apply for a leave every time my registration is scheduled and travel back to work when it is cancelled.

The person I spoke to in the Brach#2 is not LIC permanent employee, appears like she is a contractor or temporary employee.

Overall, as a customer I dont like the delay for unknown reason.
The LIC regional branch response & serice is not quite good.

I appreciate if regional manager (TN) can take this point and improve the service and quailty in responging to the customer and processing the files without delay.

Hey man, do not do mistake of going with LIC. They lure with cheaper interest rate. Believe me on 4th month onward they make you sit at 11.9%. You may be thinking LIC is government company and do fair business like SBI. Do not get trapped by that. Try in SBI, if not possible, try in IDBI which is also nice.

These LIC are not reducing interest rate even RBI cut rates recently twice or thrice. But this bloody company will immidiately increase the moment RBI increase the rate.